Companies /Industrials

Evolv Technologies Holdings Inc - Class A

NASDAQ: EVLV Security & Protection Services
$5.32
â–² $0.12 (+2.31%) today
Markets closed · 5:15pm ET

Q2 2025 Earnings

Reported Aug 14, 2025, 4:25pm ET · SEC source
$-0.02
Beat +42.86%
EPS · est. $-0.04
$32.5M
Beat +5.17%
Revenue · est. $30.9M
+2.8%
Beating market
EVLV vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+7%+14%Aug 14Aug 15report 4:25pm ETearnings−0.2%+4.7%
0+7%+14%Aug 14Aug 15earnings−0.2%+4.7%
EVLV +4.7%S&P 500 −0.2%
0+7%+14%Aug 14Aug 15report 4:25pm ETearnings−0.3%+4.7%
0+7%+14%Aug 14Aug 15earnings−0.3%+4.7%
EVLV +4.7%NASDAQ −0.3%
−5%0+5%+10%Aug 13Aug 22report 4:25pm ETearnings+0.0%+8.7%
−5%0+5%+10%Aug 13Aug 22earnings+0.0%+8.7%
EVLV +8.7%S&P 500 +0.0%
−5%0+5%+10%Aug 13Aug 22report 4:25pm ETearnings−1.2%+8.7%
−5%0+5%+10%Aug 13Aug 22earnings−1.2%+8.7%
EVLV +8.7%NASDAQ −1.2%
+5.16%
Day of report
+3.10%
Next session
+8.00%
One week
+5.23%
30 days

S&P 500 over the same 30 days: +2.45%.

Did EVLV Beat Earnings? Q2 2025 Results

Evolv Technologies delivered a clean beat across the board in the second quarter of 2025, posting adjusted EPS of negative $0.02 against a consensus estimate of negative $0.04, a 42.86% positive surprise, while revenue of $32.54 million grew 27.4% year-over-year and topped estimates by 5.17%. The headline driver was a continued surge in subscription adoption, with recurring revenue of $26.68 million growing 27% and annual recurring revenue reaching $110.52 million, providing durable visibility into future cash flows. Perhaps more telling than the top-line beat was the swing in operating cash flow to positive $2.10 million from negative $21.60 million a year ago, reflecting the operational discipline that also pushed adjusted EBITDA into positive territory at $2.04 million. Cantor Fitzgerald raised its price target on the stock to $9 following the results, citing the company's strong positioning under new management. Building on the momentum, Evolv raised its full-year 2025 revenue guidance to $132 to $135 million, implying 27% to 30% growth, and expects to reach positive cash flow in the fourth quarter.

Key Takeaways
  • 29% year-over-year revenue growth driven by customer acquisition and expansion
  • ARR of $110.5 million, up 27% year-over-year
  • Surpassed 1,000 customers served
  • Recurring revenue grew 27% year-over-year to $26.7 million
  • Adjusted operating expenses decreased to $21.6 million from $26.7 million year-over-year
  • Operating cash flow improved to $2.1 million positive from $(21.6) million in Q2 2024

“Our second quarter results were marked by strong revenue growth, continued customer acquisition and expansion, and improved visibility that positions us well as we evolve into a more predictable and scalable business. We believe that surpassing 1,000 customers served—and having screened over 3 billion visitors to date—reflects the market's growing trust in our solutions. Looking ahead, we're encouraged by the opportunity in the AI-based security screening market and remain focused on delivering consistent, high-quality performance.”

Evolv Technologies CEO, on the earnings call

Forward Guidance & Outlook

Evolv raised its full-year 2025 revenue guidance to $132-$135 million, reflecting 27%-30% growth compared to 2024, up from prior guidance of $125-$130 million (20%-25% growth). The company expects positive full-year Adjusted EBITDA with Adjusted EBITDA margins in the mid-single digits. The company expects to be cash flow positive in the fourth quarter of 2025.

EVLV YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$-20,000,000$0$20.0M$25.5M$32.5MRevenue$14.5M$16.2MGross Profit$-14,379,778$-17,493,000Operating Income
$-20,000,000$0$20.0MRevenueGross ProfitOperating Income

EVLV Revenue by Segment

Subscription Revenue$20.2M+29.0%
Product Revenue$2.5M+29.0%
Service Revenue$6.7M+20.0%
License Fee and Other Revenue$3.1M+53.0%

Figures from SEC filings and company reports. Not investment advice.